Most of our clients have been regular visitors to Cyprus prior to buying a property there, so most are well aware of the local prices for many commodities, especially if they have stayed on a self-catering basis.

However, those who have only stayed in tourist accommodation may not be aware of the prices of durable goods required to furnish a house, nor the cost of utilities and services such as insurance. It is, however, difficult to give specific advice on the overall cost of living, as so much depends on personal tastes and lifestyle. Suffice to say, though, that it is possible to live much more cheaply in Cyprus than in many other European countries, especially if you have paid for your house and have no mortgage or rent payments. In such cases, a couple can live quite comfortably, albeit not extravagantly, on CY£7000 per annum. Here are a few guidelines:

Utilities:

In an average year, you will probably find that your bills in Cyprus come to about half of those in the UK, unless you are running air conditioning for several hours a day. Hot water is effectively free, as all new properties come with a solar-powered water heater, with a back-up immersion heater needed only in the cooler months. The need for heating is not that great, unless you live on very high ground, and most people use portable electric or bottled gas heaters. Telephone costs, for both landline and mobiles, are much cheaper than the UK.

Home Insurance:

Due to the low crime rate and benign weather, house and contents insurance is about half that in the UK.

Motoring:

The cost of running a car in Cyprus is significantly lower than that in the UK. Fully comprehensive insurance for a family saloon is about CY£200. Road tax depends on the engine size and type of car, with the tax for a car with an engine capacity of less than 1651cc being half that for an engine above 1651cc. For example, the annual road tax for a 1600cc petrol saloon is CY£56. Petrol costs about 40% lower than in the UK.

Durable Goods – Furniture, Appliances etc.:

Over the past few years, the availability of household goods, fuelled by the property boom, has grown amazingly. The range of shops in Paphos alone selling furniture, electrical appliances, soft furnishings, lighting, and everything down to the last teaspoon, is much bigger than any town of comparable size in the UK, and you will be literally spoilt for choice. Prices range from the ‘budget’ to the ‘luxurious’, and are generally about 20% cheaper than in the UK. Given the costs and hassle of shipping bulky items such as upholstered suites, beds, washing machines etc., you really ought to consider buying most things in Cyprus.

The only items we find to be more expensive, and of limited choice, are electronic goods like digital cameras and laptops.

Groceries:

Although it’s difficult to generalise because of personal tastes, you will find your general grocery bill to be significantly lower than in the UK, especially for items such as fresh fruit and vegetables, meat (especially pork), local bread, Cyprus bottled water, and locally made dairy products. If you can’t do without your favourite UK brands, you will find these freely available in the larger supermarkets, but at a premium price.

Shopping is still a pleasure in Cyprus. Of course, there are the large air-conditioned hypermarkets, every bit as good as Tesco or Sainsburys, but there is also a wealth of local shops to enjoy, especially away from the tourist areas. A visit to the local bakery is a truly mouth- watering experience! Every town also has a municipal market, where fresh produce arrives daily from the villages. Local grapes (when in season) and oranges are particularly good bargains.

Alcohol and Tobacco:

The rule here is ‘buy the local stuff’! There has been a Carlsberg brewery in Cyprus since 1968, and the other locally-brewed beers are Keo and Leon. All are available in bottles and cans in supermarkets at a fraction of bar prices, just as in the UK, but cheaper still. Decent Cyprus wine starts at about CY£2 a bottle. All types of spirits are available, and those made in Cyprus are a fraction of UK prices. Cyprus brandy is particularly good value. Imported ‘brand name’ spirits (e.g Bacardi) are very expensive, but there is always a Cyprus equivalent.

Most well-known brands of cigarettes (e.g. Marlboro, Rothmans) are made under licence in Cyprus, and are about half UK prices, as is rolling tobacco, e.g. Golden Virginia.

Any Questions?

If you need any more specific information, please contact us.

Important Note
The information on this website is based on our interpretation of the current regulations in Cyprus. Whilst we make every endeavour to provide accurate information, we cannot accept liability for any loss incurred due to inaccuracies or omissions on this website. Prospective buyers are strongly recommended to take independent legal advice before entering into any agreements or parting with any money